ServiceNow (NYSE:NOW) Price Target Raised to $990.00 at Stifel Nicolaus

ServiceNow (NYSE:NOW) had its price target lifted by Stifel Nicolaus from $900.00 to $990.00 in a research report released on Thursday, Benzinga reports. The firm currently has a buy rating on the information technology services provider’s stock.

Several other brokerages also recently commented on NOW. Jefferies Financial Group raised their price objective on shares of ServiceNow from $900.00 to $1,100.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Truist Financial increased their price target on shares of ServiceNow from $780.00 to $900.00 and gave the company a “hold” rating in a report on Wednesday, October 23rd. Piper Sandler increased their price target on shares of ServiceNow from $850.00 to $1,000.00 and gave the company an “overweight” rating in a report on Thursday. Oppenheimer raised their price objective on shares of ServiceNow from $825.00 to $1,020.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Finally, Royal Bank of Canada raised their price objective on shares of ServiceNow from $850.00 to $880.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $970.33.

ServiceNow Stock Down 0.6 %

NOW opened at $950.85 on Thursday. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.17. ServiceNow has a 1-year low of $548.44 and a 1-year high of $979.78. The company has a market capitalization of $194.92 billion, a PE ratio of 101.70, a PEG ratio of 5.04 and a beta of 0.99. The firm’s 50 day simple moving average is $885.56 and its two-hundred day simple moving average is $797.66.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share for the quarter, topping the consensus estimate of $3.46 by $0.26. ServiceNow had a net margin of 11.51% and a return on equity of 14.52%. The business had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $2.75 billion. During the same period last year, the firm earned $1.21 earnings per share. The company’s quarterly revenue was up 22.2% on a year-over-year basis. As a group, equities analysts forecast that ServiceNow will post 7.41 EPS for the current year.

Insider Buying and Selling at ServiceNow

In other news, insider Jacqueline P. Canney sold 353 shares of ServiceNow stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $924.96, for a total transaction of $326,510.88. Following the completion of the sale, the insider now directly owns 3,027 shares in the company, valued at $2,799,853.92. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, insider Jacqueline P. Canney sold 353 shares of the business’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $924.96, for a total value of $326,510.88. Following the completion of the sale, the insider now directly owns 3,027 shares in the company, valued at approximately $2,799,853.92. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Paul Edward Chamberlain sold 135 shares of ServiceNow stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $822.00, for a total transaction of $110,970.00. Following the transaction, the director now directly owns 10,767 shares in the company, valued at approximately $8,850,474. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 5,467 shares of company stock worth $4,450,447. 0.25% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in NOW. Thrive Wealth Management LLC lifted its position in shares of ServiceNow by 7.7% during the first quarter. Thrive Wealth Management LLC now owns 390 shares of the information technology services provider’s stock worth $297,000 after purchasing an additional 28 shares in the last quarter. 180 Wealth Advisors LLC raised its holdings in ServiceNow by 15.4% in the first quarter. 180 Wealth Advisors LLC now owns 1,226 shares of the information technology services provider’s stock valued at $935,000 after acquiring an additional 164 shares in the last quarter. Register Financial Advisors LLC acquired a new stake in ServiceNow in the first quarter valued at $138,000. Webster Bank N. A. raised its holdings in ServiceNow by 16.8% in the first quarter. Webster Bank N. A. now owns 4,025 shares of the information technology services provider’s stock valued at $3,069,000 after acquiring an additional 580 shares in the last quarter. Finally, Independence Bank of Kentucky raised its holdings in ServiceNow by 27.2% in the first quarter. Independence Bank of Kentucky now owns 117 shares of the information technology services provider’s stock valued at $89,000 after acquiring an additional 25 shares in the last quarter. 87.18% of the stock is owned by institutional investors and hedge funds.

About ServiceNow

ServiceNow, Inc provides end to-end intelligent workflow automation platform solutions for digital businesses in the North America, Europe, the Middle East and Africa, Asia Pacific, and internationally. The company operates the Now platform for end-to-end digital transformation, artificial intelligence, machine learning, robotic process automation, process mining, performance analytics, and collaboration and development tools.